Iran, Russia, Azerbaijan ink deal on North-South Corridor

On the sidelines of the CIS summit, the chief executives of the railways of the Islamic Republic of Iran, the Republic of Azerbaijan, and the Russian Federation signed a memorandum of understanding to enhance long-term and mutually beneficial cooperation.

According to Mehr News Agency, the 83rd meeting of the Transport Council of the Commonwealth of Independent States (CIS) was held in Baku with the participation of the chief executives and delegations of 15 member states.

On the sidelines of this meeting, the chief executives of the railways of Iran, Azerbaijan, and Russia signed a memorandum of understanding to strengthen long-term and beneficial cooperation.

This memorandum covers important areas such as establishing fixed pricing for cargo transportation along the western route of the International North–South Transport Corridor, determining competitive unified rates, and expanding logistical services.

Under this memorandum, the three countries reaffirmed their commitment to stable and mutually beneficial bilateral and multilateral cooperation and set the goal of transforming the western route of the North–South Corridor into an active regional transit pathway./mehr